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This was a presentation Recipe gave to a group of Cuesta College food and hospitality students. Many of them were considering launching a new food product. This was an overview of the statistics of what they are up against.
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© 2010 Recipe Marketing
© 2010 Recipe Marketing
The ingredients for success
• Recipe serves the food and beverage industry with ideas that will grow their brands.
• Recipe offers a full menu of marketing services including strategy, design, advertising, web and public relations. Our team consists of foodies who are also marketers, writers and artists. Each has extensive experience working with industry giants as well as working with small up and comers.
• Recipe has extensive experience and success introducing new products, updating brands, growing distribution, increasing sales and promoting events.
Some of Recipe’s clients
© 2010 Recipe Marketing
© 2010 Recipe Marketing
Food and Beverage Industry by the numbers
• 90% of all new products fail• 74% of all purchase decisions are made in the grocery store• 2/3 of all purchase decisions are made by females• 47 year old females making 50k is the average grocery store shopper• 2.6 seconds is the amount of time a grocery shopper takes to make a
purchase decision• 40,000 skus are available in a grocery store
© 2010 Recipe Marketing
How to beat the numbers
• Know your category– Go on the internet
– Go to the store
– Talk to grocery product managers
– Go to the trade shows
– Read the trade publications
© 2010 Recipe Marketing
How to beat the numbers
• Know your competition– Go on the internet
– Go to the store
– Talk to grocery product managers
– Go to the trade shows
– Read the trade publications
– Try your competitions products
© 2010 Recipe Marketing
How to beat the numbers
• Know your consumer– Go out and talk with them
– Blog with them
– Go to the store and see who’s buying in your category
– Get their numbers
© 2010 Recipe Marketing
How to beat the numbers
• Know you– What makes you, you
– What problem/need/desire does your product or service fulfill
– How are you different than your competition
– What’s in it for your customers to buy your product or service
– How does your product make your customers feel
© 2010 Recipe Marketing
How to beat the numbers
• Know when to call in an expert– You have done your homework– You have a business plan– You are committed to your success
© 2010 Recipe Marketing
Thank you!
